Question out of interest - is it likely he is talking about companies moving from a location from within the US to SV?
Lots of young programmers/entrepreneurs in Europe seem to dream of going to SV as soon as possible. At the same time there are lots of great cities for startups around over here - London, Stockholm and Helsinki to just name a few... SV might be the best/a great choice later on in the process but I'm quite sure Europe has lots to offer as well (not even considering potential visa issues here, which obviously restrict many or most Europeans from joining startups over in the US).
Lots of young programmers/entrepreneurs in Europe seem to dream of going to SV as soon as possible. At the same time there are lots of great cities for startups around over here - London, Stockholm and Helsinki to just name a few... SV might be the best/a great choice later on in the process but I'm quite sure Europe has lots to offer as well (not even considering potential visa issues here, which obviously restrict many or most Europeans from joining startups over in the US).